PALO ALTO, Calif. - Oct. 20, 2003 - VarianMedical Systems, Inc. (NYSE:VAR) announced today that it expects earnings per diluted share for the fourth quarter of fiscal 2003 to be up by 26 to 27 percent over the $0.48 per diluted share reported in the fourth quarter of fiscal 2002. Sales for the fourth quarter are expected to grow by about 16 percent over the corresponding period in fiscal 2002. Fourth-quarter net orders for the company will be about 10 percent higher than the year-ago quarter. Management expects to report increases of about 13 percent in Oncology Systems net orders for the fourth quarter. This business segment expects particularly strong gains in North America, which should constitute 62 percent of its total orders for the quarter. The quarter-ending backlog for the company is expected to be up by about 16 percent over totals for the same time last fiscal year. In the interest of fair disclosure, this announcement is being made prior to Varian Medical Systems’ investor meeting at the 2003 exhibition of the American Society of Therapeutic Radiologists and Oncologists (ASTRO) in Salt Lake City on Tuesday, October 21, when management will focus on new technologies. The ASTRO investor meeting will include a review of Varian's new products, a tour of a local clinic where cancer patients receive advanced treatments including intensity modulated radiation therapy (IMRT), and a visit to the company's X-Ray Products manufacturing plant in Salt Lake City. Varian's financial performance will not be a topic of discussion at this meeting. Varian Medical Systems' management will comment in more detail about fourth quarter and fiscal year 2003 results, as well as its outlook for fiscal 2004, after the close of trading on the New York Stock Exchange on Tuesday, October 28 on the company's scheduled conference call. The conference call is scheduled for 2 p.m. PT and can be accessed via the web at http://investor.varian.com or via telephone at 1-800-901-5231 (inside the U.S.) or 1-617-786-2961 (outside the U.S.) with confirmation code 13873208.
Varian Medical Systems Expects To Report Strong Net Orders, Sales,
Corporate and Financial Releases
20 de October de 2003